Mitsubishi Corp Stock Forecast
Red day on Friday for Mitsubishi Corp stock after losing 0%
(Updated on Sep 04, 2020)
No changes to the price of Mitsubishi Corp stock on the last trading day (Friday, 4th Sep 2020). During the last trading day the stock fluctuated 0% from a day low at $40.23 to a day high of $40.23. The price has been going up and down for this period, and there has been a 0% change for the last 2 weeks.
The stock lies the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $40.24 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -11.96% during the next 3 months and, with a 90% probability hold a price between $33.32 and $35.42 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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MSBHY Signals & Forecast
There are mixed signals in the stock today. The Mitsubishi Corp stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $40.23 and $40.65. A break-up above any of these levels will issue buy signals. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Thursday, July 30, 2020, and so far it has risen 0.224%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Mitsubishi Corp stock
Mitsubishi Corp finds support from accumulated volume at $40.14 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0%
Our recommended stop-loss: $37.83 (-5.97%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 26 days ago.)
Trading Expectations (MSBHY) For The Upcoming Trading Day Of Tuesday 8th
For the upcoming trading day on Tuesday, 8th we expect Mitsubishi Corp to open at $40.23, and during the day (based on 14 day Average True Range), to move between $40.10 and $40.36, which gives a possible trading interval of +/-$0.133 (+/-0.33%) up or down from last closing price. If Mitsubishi Corp takes out the full calculated possible swing range there will be an estimated 0.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $40.14 (0.22%) than the resistance at $42.14 (4.75%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Mitsubishi Corp stock A Buy?
Mitsubishi Corp holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Mitsubishi Corp of Tuesday, September 8, 2020
| Fair opening price September 8, 2020 | Current price |
|---|---|
| $40.23 ( 0%) | $40.23 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MSBHY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 40.23 | . | |
| R2 | 40.23 | . | ||
| R1 | 40.23 | . | ||
| Current price: | 40.23 | |||
| Support | S1 | 40.23 | . | |
| S2 | 40.23 | . | ||
| S3 | 40.23 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 43.19 | 7.36 % | |
| R2 | 43.00 | 6.89 % | ||
| R1 | 42.14 | 4.75 % | ||
| Current price | 40.23 | |||
| Support | S1 | 40.14 | -0.224% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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